Greece's shadow economy (i.e., unreported income) is about 25% of the country's gross domestic product. Service. return unescape(document.cookie.substring(cStart, cEnd)); // execute After they protested in September, the number of auditors was raised to 50. if (isOneTrustAnyBlocked()) { TIL that with only 324 households declaring ownership of a swimming pool on their tax form and fearing tax evasion, Greek authorities turned to satellite imagery for further investigation of Athens' northern suburbs. The corporate income tax is a tax on the profits of corporations. If we focus more on the Greek case, we can identify 8 main causes for tax evasion: The first two problems are obvious, and linked to eachother. An additional 3.5% of GDP is estimated to be lost due to Value-Added Tax (VAT) fraud. Show entries Search: Showing 1 to 10 of 12 entries 22%. var foresee_enabled = 1 Tax Evasion in Greece. Some of the most aggressive tax evaders, experts say, are the self-employed, a huge pool of people in this country of small businesses. typeof mps._gptfirst == "function" && mps._gptfirst(adunit, slotid); When tax authorities recently surveyed the returns of 150 doctors with offices in the trendy Athens neighborhood of Kolonaki, where Prada and Chanel stores can be found, more than half had claimed an income of less than $40,000. Of course, high tax rates have other serious consequences, beyond their reduced efficiency. Both men were named directors of Christina GP in the company documents but they used a nominee firm, Stockcorp, as shareholder. Growth is the only way to achieve fiscal consolidation. The Greek government's ability to tackle a deep-rooted culture of tax evasion is rapidly becoming a central issue in whether the country can remain in the euro. The fight against tax evasion is a challenge for every state in the world. } console.log('PUB-GDPR-CHECK all blocked. After the meeting, Juncker said that some progress had been made, but that it was insufficient. This is a critical characteristic of the Greek tax problem: in Greece, the percentage of the self-employed is twice as high asthe European average. In flagrante | The Economist At the same time, however, during the crisis, direct tax rates increased, and new direct taxes were also introduced(solidarity tax, Single Property Tax-ENFIA), which softenedthe states losses but increased the tax burden for everyone -primarily for the poor. The document proposes hiking taxes on luxury items such as planes, helicopters, gliders and swimming polls to 13 percent from 10 percent.
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